Page 8 - Latest Updates on Gross Domestic Product (GDP)
Economy needs more govt support
Lockdown was a brave decision. Now, policy-making requires a similar display of boldness
 "Economy needs more govt support")
Market expects gradual withdrawal of lockdown measures, say analysts
Analysts at Nomura say the experience of countries that have successfully flattened the curve suggests that the duration of the lockdowns could be longer
 "Market expects gradual withdrawal of lockdown measures, say analysts")
World Bank sees India's GDP growth at 1.5-2.8%, lowest since 1991 crisis
Warns social distancing to be a challenge among migrant workers, slum dwellers
 "World Bank sees India's GDP growth at 1.5-2.8%, lowest since 1991 crisis")
Creating fiscal space for the states
In the second part of a series, the authors say the current uncertainties require room for discretion to serve as a necessary handmaiden of rules that cannot alone cater to all contingencies
 "Creating fiscal space for the states")
'Covid-19 hangs over future like spectre': RBI in Monetary Policy Report
While efforts are being mounted on a war footing to arrest its spread, Covid-19 would impact economic activity in India directly through domestic lockdown, the central bank has said
 "'Covid-19 hangs over future like spectre': RBI in Monetary Policy Report")
Gain some, lose some: What India's Covid-19 relief package means for biz
As India manages life under a 21-day lockdown, the government and the RBI have moved to help the economy and the poorest. A look at who gains from these moves and who loses out
 "Gain some, lose some: What India's Covid-19 relief package means for biz")
Establish fiscal council to scale up spending
India will have to address the big fiscal prudence challenge, which is not captured by the fiscal deficit/GDP metric
End lockdown or not?
Extending the lockdown could lead to more deaths
 "End lockdown or not?")
Fiscal space: Not if but how
In the first part of a series, the authors argue the means must be found to avert potential economic and social collapse post-Covid
 "Fiscal space: Not if but how")
Direct benefit transfer need of the hour: Abhijit Banerjee, Esther Duflo
Banerjee said that there was no need to immediate need to transfer all the money, but there should be assurance from the government about such transfer in future
 "Direct benefit transfer need of the hour: Abhijit Banerjee, Esther Duflo")
Govt unlikely to grant any package for industry to pay workers' salaries
"The government lacks the fiscal space. It will not be feasible to give grants to the industry to take care of its wage bills," sources said.
 "Govt unlikely to grant any package for industry to pay workers' salaries")
Investment pipeline in economy chokes as key indicators show deterioration
Gross fixed capital formation - an indicator of investment demand -as a percentage of GDP, fell to nearly two-decade low
 "Investment pipeline in economy chokes as key indicators show deterioration")
NCR, Mumbai stare at up to $1.7bn per week loss due to shutdown: Barclays
For NCR, Barclays has included Delhi and satellite towns of Noida, Gurugram and Ghaziabad
 "NCR, Mumbai stare at up to $1.7bn per week loss due to shutdown: Barclays")
Direct tax mop-up falls short by record Rs 1.45 trn of revised estimates
Official figures showed that the gross amount collected under direct taxes as of March 31 was Rs 12.11 trillion
 "Direct tax mop-up falls short by record Rs 1.45 trn of revised estimates")
Questions about borrowing
The funding need can change materially
 "Questions about borrowing")
India's fiscal deficit may shoot to 6.2% of GDP in FY21: Fitch Solutions
Underpinning the revised forecast are weaker revenue collection as a result of a sharp virus-driven downturn in economic activity
 "India's fiscal deficit may shoot to 6.2% of GDP in FY21: Fitch Solutions")
Now what?
Once the lockdown is lifted, we will need the mother of all fiscal and monetary policy support to sustain the economy
 "Now what?")
The Morning After
Policy interventions will have to be intelligent: Striving to create deep, but temporary, safety nets during COVID-19 without generating imbalances and distortions thereafter
 "The Morning After")
Moody's cuts India 2020 GDP forecast to 2.5%; global growth to dip to -0.5%
Over the next few months, Moody's expects job losses across countries to accelerate
 "Moody's cuts India 2020 GDP forecast to 2.5%; global growth to dip to -0.5%")
Consumption sector will not be affected much by the 21-day lockdown
I believe the full-year impact on GDP will be around 150 basis points (bps)
 "Consumption sector will not be affected much by the 21-day lockdown")
